DiamondRock Hospitality (NYSE:DRH) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a research report released on Friday morning.

A number of other research firms have also weighed in on DRH. Truist Financial lifted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a hold rating in a report on Thursday, March 14th. Stifel Nicolaus boosted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a buy rating in a research report on Friday, February 23rd. Finally, Wolfe Research assumed coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an outperform rating and a $11.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $10.30.

DiamondRock Hospitality Stock Performance

Shares of DRH stock traded up $0.06 during trading hours on Friday, hitting $8.83. 2,289,141 shares of the company were exchanged, compared to its average volume of 2,409,467. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 24.53 and a beta of 1.61. The firm has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $9.00. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a net margin of 7.86% and a return on equity of 5.20%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Research analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a yield of 1.36%. DiamondRock Hospitality’s payout ratio is 33.33%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently modified their holdings of DRH. Parallel Advisors LLC grew its holdings in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,423 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of DiamondRock Hospitality by 195.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in DiamondRock Hospitality in the third quarter worth $90,000. LDR Capital Management LLC grew its holdings in DiamondRock Hospitality by 25.5% during the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of DiamondRock Hospitality by 19.4% during the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 2,324 shares during the period.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.